WEBVTT - Snowflake, Dollar Tree, Eli Lilly All Surge

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I think we want to get to some stockmovers, they're

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<v Speaker 3>telling us Avalon Parnell here in our interactive broker studio Avalon,

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<v Speaker 3>let's start with you brought some goodies with you. Snowflake

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<v Speaker 3>having quite the day on Wall Street.

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<v Speaker 1>Absolutely, that's ticker snow Currently it's surging about thirty nine percent,

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<v Speaker 1>is on pace for its biggest one day jump since

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<v Speaker 1>its debut in twoenty and twenty. That's have the software

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<v Speaker 1>maker gave us stronger than expected full year guidance and

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<v Speaker 1>also reported first quarter results that walloped expectations. Also worth

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<v Speaker 1>noting that the company signed a six billion dollar multi

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<v Speaker 1>year agreement to use Amazon's cloud services and chips and

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<v Speaker 1>ever course, writing that unlike some of the other names

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<v Speaker 1>that have really been sluggish for software, Snowflake looks like

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<v Speaker 1>one of the very few clear AI winners in the space.

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<v Speaker 4>It's so crazy because the story had been AI disruption

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<v Speaker 4>to software providers, and now AI has begun the tailwind

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<v Speaker 4>for this software provider. I can't believe it's only the

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<v Speaker 4>biggest one day jump since twenty twenty, so there's been

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<v Speaker 4>another day on which Snowflake stock has risen more than

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<v Speaker 4>forty percent.

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<v Speaker 1>To be fair, it is actually their debut happen in

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<v Speaker 1>twenty twenty.

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<v Speaker 4>I see Okay's biggest one day jump. Ever, we also

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<v Speaker 4>have incredible strength in Dollar Tree, and clearly inflation is

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<v Speaker 4>a problem that we've been dealing with for some time now.

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<v Speaker 4>Concerns about the bottom portion of the K shaped economy

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<v Speaker 4>have been growing. But why did it take so long

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<v Speaker 4>for the market market to recognize that they may be

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<v Speaker 4>shopping at discount stores like Dollar Tree.

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<v Speaker 1>You're absolutely correct that Sticker dlt are currently gaining about

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<v Speaker 1>sixteen percent for it also biggest inter day leap since

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<v Speaker 1>twenty twenty two. That's after the chain reported better than

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<v Speaker 1>expected first quarter results and also boosted its full year

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<v Speaker 1>EPs guidance. Now, what is kind of important of note,

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<v Speaker 1>kind of to your point about those lower income shoppers.

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<v Speaker 1>They actually have been stepping into the stores less. However,

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<v Speaker 1>the times that they are going, they are spending more.

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<v Speaker 1>So to a certain extent, they are still seeing Dollar

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<v Speaker 1>Tree as a must go.

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<v Speaker 3>So they're spending more per transaction WRECT, which is really

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<v Speaker 3>which is the meat right of this of this report.

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<v Speaker 4>The goods they're also increasingly cost more than a dollars.

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<v Speaker 3>Yes, so their name does not hold true anymore. It

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<v Speaker 3>could be dollars Tree, dollars Tree. I think you're right,

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<v Speaker 3>But also they weren't. Just to be fair, I know

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<v Speaker 3>you didn't bring these stocks along with you today, but

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<v Speaker 3>Coal's and Best Buy very different retailers from Dollar Tree,

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<v Speaker 3>but still out with really strong numbers today. And again

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<v Speaker 3>it just we just keep coming back to that word resilient.

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<v Speaker 3>But despite high gas prices, despite inflation that is, you know,

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<v Speaker 3>trending higher, consumers appear to be spending, but they are

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<v Speaker 3>still looking for value, and I think that's what each

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<v Speaker 3>CEO continued to drive home.

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<v Speaker 1>You're absolutely right. We actually had a great article about

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<v Speaker 1>that on the terminal as well, that in this economy

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<v Speaker 1>really right now, shoppers are looking for the best of

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<v Speaker 1>their dollar and they're still seeing Dollar Tree as a place, so.

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<v Speaker 3>They'll spend as long as they see value in the spending.

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<v Speaker 1>Yes, got it.

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<v Speaker 4>Oh, it's funny that you bring up resilient because a

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<v Speaker 4>buddy of mine who runs a company called resilient health.

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<v Speaker 4>Dennish Nagda has been telling me four days now that

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<v Speaker 4>Lily has got something in its pipeline that's going to

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<v Speaker 4>be a game changer as far as heart conditions. They've

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<v Speaker 4>got a one stop treatment that can help you avoid

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<v Speaker 4>bad cholesterol. And they also made a bunch of acquisitions

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<v Speaker 4>this week. Like, there's so much going on with this

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<v Speaker 4>stock's what's the story with Eli?

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<v Speaker 1>Lilly Absolutely, that's ticker ll Y. You're absolutely right. It's

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<v Speaker 1>currently up about four point five percent earlier today actually

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<v Speaker 1>hitting an inter day record high.

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<v Speaker 4>Wow.

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<v Speaker 1>And that's after CBS said that it will be reintroducing

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<v Speaker 1>the company's weight loss drug, zet Bound to its patients

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<v Speaker 1>as a covered medication. That's a really big deal since

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<v Speaker 1>insurance coverage remains the biggest hurdle for getting more people

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<v Speaker 1>on those weight loss shots. And Scotiabank actually writing that

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<v Speaker 1>the decision is a really great positive heale went for Lily,

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<v Speaker 1>especially into the second half of the year. That could

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<v Speaker 1>potentially mean some upside to their guidance for the full year.

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<v Speaker 3>And this week they bought three infectious disease companies, all

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<v Speaker 3>privately held, right, and that the stock at a big

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<v Speaker 3>Bolli acquisition or billion dollars worth.

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<v Speaker 1>Yeah, absolutely. I mean big pharma is always trying to

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<v Speaker 1>look for the next thing, what is going to be

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<v Speaker 1>the next big weight loss, especially as starting things are

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<v Speaker 1>going to be coming and losing their patent protection. ELI Lilly,

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<v Speaker 1>like many.

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<v Speaker 3>They're expanding beyond the very lucrative obesity drug arena.

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<v Speaker 1>Have to go to the next one as well.

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<v Speaker 2>The Stock Mover's report from Bloomberg Radio. Check back with

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